Janus Forty Fund (JACTX)

High-Conviction Large-Cap Growth Equities

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FUND FACTS (JACTX)

Inception Date5/1/1997
NAV (As of 2/24/17)$30.01
Total Net Assets (As of 1/31/17)$2.07B
Annual Expense Ratio
(As of fiscal year end 9/30/16)
GROSS 0.96%
NET 0.96%

Performance (As of 12/31/16)
1 Year2.19%
3 Year7.59%
5 Year15.29%
10 Year7.94%
Morningstar (As of 1/31/17)
CategoryUS Fund Large Growth
Overall Rating™
(Based on risk-adjusted returns)

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1313 Funds Rated
Equity
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Returns quoted are past performance and do not guarantee future results; current performance may be lower or higher. Investment returns and principal value will vary; there may be a gain or loss when shares are sold. For the most recent month-end performance click here.

Returns greater than one year are annualized.

Net expense ratios reflect the expense waiver, if any, Janus Capital has contractually agreed to through 2/1/19.

Quarterly Commentary - Q4 2016

EXECUTIVE SUMMARY

U.S stocks slumped early in the quarter, but rebounded after the U.S. election.

The Fund underperformed its primary benchmark.

We believe the U.S. economic outlook has improved. We’ve made a few changes at the margins to reflect the improved economic landscape, but the bulk of our portfolio remains invested in companies tied to enduring secular growth themes that we believe will push forward regardless of the economic backdrop.

FUND MANAGEMENT

Doug Rao

Doug Rao

Fund Manager since 2013
Industry since 1998

Nick Schommer

Nick Schommer, CFA

Fund Manager since 2016
Industry since 2007